Canadian Overseas Petroleum Limited (DI) (COPL)

Sector:

Energy Producers

0.063p
   
  • Change Today:
      0.005p
  • 52 Week High: 0.34
  • 52 Week Low: 0.050
  • Currency: UK Pounds
  • Shares Issued: 3,483.75m
  • Volume: 30,075,473
  • Market Cap: £2.18m
  • Beta: 0.31

Canadian Overseas Petroleum shuts down Liberian asset to focus on Nigeria

By Iain Gilbert

Date: Monday 13 Nov 2017

LONDON (ShareCast) - (ShareCast News) - AIM-listed firm Canadian Overseas Petroleum (COPL) filed its third-quarter results on Monday, issuing a brief trading update on its West African operations in the process.
COPL and its partner in block LB-13 offshore Liberia both elected not to enter into a third exploration period at the asset, and eventually opted to surrender the rights to the license, resulting in a total impairment to its exploration and evaluation assets of $15.6m.

The group also noted it had continued to work with its investment bankers to source funds for the appraisal and development of its OPL 226 project in Nigeria and that it planned to begin drilling of an appraisal well in "early 2018".

Arthur Millholland, chief executive of COPL, said the appraisal programme would likely be the first step towards a full field development project.

"We continue to focus on developing our attractive oil appraisal and development project in OPL 226, offshore Nigeria," he said.

"The initial work program will be to drill an appraisal well to the NOA-1 oil discovery and place it on production through an Early Production Scheme. This would be followed by the drilling of up to three additional similar wells on the NOA Structure."

As of 1230 GMT, shares had dropped 9.30% to 0.975p.

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COPL Market Data

Currency UK Pounds
Share Price 0.063p
Change Today 0.005p
% Change 8.70 %
52 Week High 0.34
52 Week Low 0.050
Volume 30,075,473
Shares Issued 3,483.75m
Market Cap £2.18m
Beta 0.31

COPL Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
16.82% above the market average16.82% above the market average16.82% above the market average16.82% above the market average16.82% above the market average
74.47% below the sector average74.47% below the sector average74.47% below the sector average74.47% below the sector average74.47% below the sector average
Price Trend
94.24% below the market average94.24% below the market average94.24% below the market average94.24% below the market average94.24% below the market average
78.43% below the sector average78.43% below the sector average78.43% below the sector average78.43% below the sector average78.43% below the sector average
Income Not Available
Growth Not Available

COPL Dividends

No dividends found

Trades for 13-Dec-2019

Time Volume / Share Price
14:21 240,000 @ 0.063p
14:15 148,000 @ 0.063p
14:10 148,000 @ 0.063p
14:09 68,000 @ 0.063p
14:00 5,000,000 @ 0.063p

COPL Key Personnel

Chair Harald Ludwig
CFO Aleksandra Owad

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